TREACE MEDICAL CONCEPTS, INC.

Listed Company

TMCICIK 0001630627NasdaqAcceleratedSurgical & Medical Instruments & ApparatusFloridaFY ends Dec 31

Period

FY 2025

Revenue

$212.69M

Net Income

$-59.00M

Total Assets

$190.58M

Equity

$87.33M

Shares Out

64.59M

Op. Cash Flow

$-15.97M

Business

TREACE MEDICAL CONCEPTS, INC. is a medical technology company focused on advancing surgical treatment for bunion and related midfoot deformities. It develops and commercializes procedure-specific instruments, implants and surgical systems, including the Lapiplasty 3D Bunion Correction System, Adductoplasty, SpeedPlate fixation, Nanoplasty, Percuplasty, Hammertoe PEEK implants and IntelliGuide patient‑specific planning tools, together with surgeon training and patient education programs. The business is organized around product systems, clinical research and surgeon education supported by a Surgeon Advisory Board. It markets primarily in the United States through a direct sales force and independent agencies to foot and ankle surgeons, hospitals and ambulatory surgery centers, and uses direct‑to‑patient outreach and online tools.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	213	209	187	142	94
Cost of goods sold	43	41	35	26	17
Gross profit	170	168	152	116	78
Sales and marketing	141	148	141	105	65
Research and development	20	21	15	14	10
General and administrative	63	56	47	33	18
Total operating expenses	224	224	203	151	94
Loss from operations	−54	−56	−51	−35	−17
Interest income	3	5	7	1	17,000
Interest expense	−5	−5	−5	−4	−4
Debt extinguishment loss	−3	0	0	−4	0
Other income, net	432,000	324,000	342,000	−403,000	1,000
Other non-operating income (expense), net	−5	−55,000	2	−8	−4
Net loss	−59	−56	−50	−43	−21
Unrealized gain (loss) on marketable securities	−25,000	−66,000	190,000	−27,000	0
Comprehensive loss	−59	−56	−49	−43	−21
Net loss per share, basic	−0.93	−0.9	−0.81	−0.77	−0.43
Net loss per share, diluted	−0.93	−0.9	−0.81	−0.77	−0.43
Weighted-average shares used in computing net loss per share, basic	63	62	61	55	48
Weighted-average shares used in computing net loss per share, diluted	63	62	61	55	48

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	11	11	13	19	106
Marketable securities, short-term	38	64	110	62	0
Accounts receivable, net of allowance for credit losses of $1,824 and $1,326 as of December 31, 2025 and December 31, 2024, respectively	42	41	38	29	19
Inventories	36	39	29	19	11
Prepaid expenses and other current assets	6	6	8	4	3
Total current assets	132	161	198	133	138
Property and equipment, net	30	26	22	15	3
IIntangible assets, net of accumulated amortization of $2,375 and $1,425 as of December 31, 2025 and December 31, 2024, respectively	7	8	9	0	—
Goodwill	13	13	13	0	—
Operating lease right-of-use assets	8	8	9	10	2
Other non-current assets, net of allowance for credit losses of $69 and $69 as of December 31, 2025 and December 31, 2024, respectively	1	407,000	146,000	146,000	0
Total assets	191	217	252	159	141
Accounts payable	7	11	12	9	4
Accrued liabilities	6	7	10	6	5
Accrued commissions	9	10	11	7	5
Accrued compensation	6	7	8	8	4
Other liabilities	2	510,000	4	339,000	—
Total current liabilities	31	35	45	30	18
Long-term debt, net	56	53	53	53	29
Operating lease liabilities, net of current portion	14	16	16	16	0
Other long-term liabilities	3	37,000	37,000	0	—
Total liabilities	103	104	114	98	48
Commitments and contingencies (Note 8)	—	—	—	—	—
Preferred stock, $0.001 par value, 5,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 0 shares issued as of December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock, $0.001 par value, 300,000,000 shares authorized; 64,029,378 and 62,385,101 shares issued as of December 31, 2025 and December 31, 2024, respectively	64,000	62,000	62,000	55,000	45,000
Additional paid-in capital	337	303	272	145	135
Accumulated deficit	−249	−190	−134	−85	−42
Accumulated other comprehensive income (loss)	72,000	97,000	163,000	−27,000	0
Treasury stock, at cost; 165,513 and 23,391 shares as of December 31, 2025 and December 31, 2024, respectively	−1	−281,000	−13,000	0	—
Total stockholders equity	87	113	138	61	93
Total liabilities and stockholders equity	191	217	252	159	141

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−59	−56	−50	−43	−21
Depreciation and amortization expense	11	8	5	2	685,000
Provision for allowance for credit losses	834,000	3	434,000	—	—
Share-based compensation expense	34	31	17	8	3
Non-cash lease expense	2	2	2	3	0
Amortization of debt issuance costs	292,000	298,000	297,000	244,000	176,000
Debt extinguishment loss	3	0	0	4	0
Amortization (accretion) of premium (discount) on marketable securities, net	−123,000	−1	−1	−126,000	0
Other, net	1	538,000	205,000	25,000	0
Accounts receivable	−2	−6	−9	−11	−4
Inventory	3	−10	−10	−9	−3
Prepaid expenses and other assets	166,000	2	−1	−668,000	−2
Other non-current assets	−503,000	−330,000	0	−146,000	0
Operating lease liabilities	−3	−2	−119,000	3	0
Accounts payable	−4	−1	3	5	2
Accrued liabilities	−2	−8	8	7	7
Other, net	35,000	97,000	40,000	0	0
Net cash provided by (used in) operating activities	−16	−37	−35	−31	−17
Purchases of available-for-sale marketable securities	−41	−72	−170	−63	0
Sales and maturities of available-for-sale marketable securities	67	119	120	2	0
Purchases of property and equipment	−14	−12	−11	−15	−3
Acquisition, net of cash acquired	0	0	−20	0	0
Net cash provided by (used in) investing activities	13	35	−81	−77	−3
Proceeds from interest bearing term debt	59	0	0	50	0
Proceeds from insurance premium financing	2	0	0	—	—
Debt issuance costs	−1	0	0	−989,000	0
Payments on interest bearing term and revolving debt	−56	0	0	—	—
Payments on insurance premium financing	−916,000	0	0	—	—
Proceeds from issuance of common stock from public offering, net of issuance costs and underwriting discount of $7.5 million	0	0	108	0	108
Proceeds from exercise of employee stock options	546,000	428,000	2	2	2
Taxes from withheld shares	−902,000	−268,000	−13,000	0	0
Net cash provided by (used in) financing activities	2	160,000	109	21	108
Net increase (decrease) in cash and cash equivalents	−642,000	−2	−6	−86	88
Cash paid for interest	5	5	5	4	4
Operating lease right-of-use asset and lease liability adjustment due to lease incentive	0	8,000	−22,000	4	0
Unsettled matured marketable security and receivable from broker	0	0	3	0	0
Noncash portion of internally developed software	0	0	−11,000	0	0
Legal cost financing	1	0	0	—	—

Filings

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